Insider Selling: PACS Group (NYSE:PACS) Insider Sells 83,066 Shares of Stock

PACS Group, Inc. (NYSE:PACS) insider Mark Hancock sold 83,066 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $35.90, for a total value of $2,982,069.40. Following the sale, the insider owned 54,366,277 shares of the company’s stock, valued at approximately $1,951,749,344.30. This trade represents a 0.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Mark Hancock also recently made the following trade(s):

• On Monday, June 15th, Mark Hancock sold 153,254 shares of PACS Group stock. The shares were sold at an average price of $36.34, for a total value of $5,569,250.36.

PACS Group Stock Down 1.5%

NYSE PACS traded down $0.54 during mid-day trading on Wednesday, reaching $35.35. 610,743 shares of the company’s stock traded hands, compared to its average volume of 925,067. PACS Group, Inc. has a 1-year low of $7.50 and a 1-year high of $43.08. The company has a fifty day simple moving average of $35.74 and a 200-day simple moving average of $35.93. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.27. The company has a market cap of $5.60 billion and a price-to-earnings ratio of 22.66.

PACS Group (NYSE:PACS) last issued its earnings results on Monday, May 11th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.42 by $0.08. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.36 billion. PACS Group had a return on equity of 26.47% and a net margin of 4.49%. As a group, equities research analysts expect that PACS Group, Inc. will post 2.19 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Oppenheimer lifted their target price on PACS Group from $42.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. UBS Group lifted their target price on PACS Group from $42.00 to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of PACS Group in a research report on Friday, March 27th. Truist Financial lifted their target price on PACS Group from $50.00 to $52.00 and gave the stock a “buy” rating in a research report on Monday, May 18th. Finally, Zacks Research lowered PACS Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $48.00.

Institutional Trading of PACS Group

Several hedge funds have recently made changes to their positions in PACS. Hollencrest Capital Management bought a new stake in shares of PACS Group in the 4th quarter worth approximately $27,000. Quarry LP lifted its holdings in shares of PACS Group by 79.5% in the 3rd quarter. Quarry LP now owns 2,388 shares of the company’s stock worth $33,000 after purchasing an additional 1,058 shares during the last quarter. Larson Financial Group LLC lifted its holdings in shares of PACS Group by 127.0% in the 4th quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock worth $42,000 after purchasing an additional 612 shares during the last quarter. KBC Group NV bought a new stake in shares of PACS Group in the 1st quarter worth approximately $42,000. Finally, Western Wealth Management LLC bought a new stake in shares of PACS Group in the 1st quarter worth approximately $48,000.

About PACS Group

PACS Group, Inc, through its subsidiaries, operates skilled nursing facilities and assisted living facilities in the United States. The company also provides senior care and independent facilities. It engages in the acquisition, ownership, and leasing of health care-related properties. The company was founded in 2013 and is based in Farmington, Utah.